Question
Arthur received a Form 1099-NEC with box 1 filled in as earning $4,200 from a general contractor who paid him to do some special finish
Arthur received a Form 1099-NEC with box 1 filled in as earning $4,200 from a general contractor who paid him to do some special finish carpentry on a custom home. How should he report this income?
A)Report the income on Schedule 1 (Form 1040) on line 8 as other income.
B)Report the income on Schedule 1 (Form 1040) on line 8 as other income and deduct the expenses on Schedule A.
C)Complete a Schedule C (Form 1040 or 1040-SR) and include any related expenses.
D)Request that the general contractor replace the Form 1099-NEC with a Form W-2.
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav
13th Edition
8120335643, 136126634, 978-0136126638
